A very basic introduction to the fundamentals of marketing from conversion, operations, function and purpose of marketing to marketing strategy and above the line/below the line

1. The Theory of Marketing The small stuff that makes up the big stuff Ali Syme Marketing Mathematician

2. What will you learn? (if anything) How to answer the question of “what is marketing?” Pub talk – facts to impress your friends A bit of science – why marketing exists A bit of psychology – why it all works Proof that sales people are like monkeys ‘Conversion’, ‘Metrics’ and other funny words How marketing fuzzes the numbers Marketing operations Strategies vs. campaigns Ali Syme Marketing Mathematician

3. Least intelligence of four children The banker The teacher The engineer Then Ali Marketed paper cups, sporks, software, chemicals, consumer electronics, energy drinks, hot chocolate, music events, pick ‘n’ mix, barcodes, cable ties, flash drives, security scanners, parachutes, legal services, TV programmes, Jedi Mind Tricks, ball bearings, magnets, cufflinks and more About Ali (the short bloke) Ali Syme Marketing Mathematician

4. 𝐸𝑝=? Physics Question… Ali Syme Marketing Mathematician

5. Everything has potential. Marketing is about raising the potential for sales. Since both a product and the consumer that may or may not purchase said product both have “Ep”, then it’s safe to say that it’s possible to raise potential for sales in products and consumers. From this understanding, we can now look at the differences between product and consumer marketing – where one looks at raising potential for sales in consumers, while the other deals with the potential for sales in the product Ep= Potential Energy Ali Syme Marketing Mathematician

6. Consumer Marketing Raising the potential for sales in the consumer Influencing consumer decisions Links consumers with brands Product Marketing Raising the potential of the product itself How is it defined in the market How the product reaches the customer The value of the product Ali Syme Marketing Mathematician

7. A well known fizzy drink did an experiment. They increased the yellow tint in their usually green can by a matter of per cent, and had people taste test it. The tasters said it was more citrusy than the fizzy drink from the previous cans. Is this product or consumer marketing? Product of Consumer? Ali Syme Marketing Mathematician

8. There are reasons why we buy things. There are even reasons why we feel we need to buy things. From knowing what people need and want, we can distinguish between above the line and below the line marketing Almost Psychology Ali Syme Marketing Mathematician

9. “You’re thirsty – drink this” Measureable results Equates to product sales Brand competition Above and Below Ali Syme Marketing Mathematician “We’ll make you feel thirsty” Difficult to measure results All about the brand Prestige Marketing ABOVE THE LINE BELOW THE LINE

10. Sales people need to identify four aspects of every lead/opportunity before a ‘sale’ has any real potential: What about sales? Ali Syme Marketing Mathematician

11. Marketing helps deliver on most of the aspects sales people look for in every opportunity that they encounter What Marketing Does for Sales Ali Syme Marketing Mathematician Product Marketing highlights the value of a product – making it worth the expense Product Marketing makes the product/solution appear to be simple and ready to go Marketing creates the need, and ensures that those with the need encounter the product Marketing generates leads by contacting the decision makers in a company

12. Different companies use different terms to describe their sales pipeline. Glimmers, Leads, Prospects, Opportunities, Accounts, Customers, Conversions, ROI, lead time, presales…and lots of others (a large number of which come from the US influence on sales processes). The basic terms are to describe the pipeline, and so marketing has its own set of terms to measure this pipeline. The next slide will show the very basics of a sales pipeline Funny words Ali Syme Marketing Mathematician

13. Sales Process vs. Marketing Measurements Ali Syme Marketing Mathematician Some impressions will turn into enquiries – opportunities to propose If a proposal is accepted, then the impression has become an account with revenue eMails, Posters, Events, Online Advertising – all account for impressions. Once qualified, some leads will lead to the opportunity to propose or quote for work 1,000 10 100 1 10% conversion 10% conversion 10% conversion

14. We see 10% of impressions becoming leads, then 10% of those becoming opportunities, and 10% of those becoming accounts. So a conversion, we can say, from an impression to an account is 0.1% and from lead to account is 1% Metrics are used to fluff up the numbers. The value of an account may be £100,000 and the cost of 1,000 impressions may have been £10,000 – so we could say 0.1% effectiveness from the marketing effort, or we could say 900% ROI. There are various ways to ‘elaborate’ on the data. Measuring Effectiveness Ali Syme Marketing Mathematician

15. How does a marketing department function? A marketing department, by way of a definition, takes the business objectives of a company and translates them into a marketing plan or strategy – then delivers on that strategy for the benefit of the company-wide aims and objectives If a company doesn’t have a marketing department, it can still utilise consultants for campaigns or agencies for its strategy, however operations, in this case, focus on in-house marketing Marketing Operations (eep) Ali Syme Marketing Mathematician

16. Marketing Cycle Ali Syme Marketing Mathematician

17. A marketing manager may ask themselves these kinds of questions when introduced to a typical marketing role: What is the word from the top? Is the aim to target new markets? Is the aim to increase repeat sales? What assets does the department have? Digital assets like a website? Human resources like staff? What is the budget like? Who manages the assets? How and what will you do? Campaigns – When? Where? To whom? Strategies – Objectives? Aims? Management – who will manage strategies and campaigns? What does success look like? Will you focus on market share? Will you focus on competition’s markets’? Will you focus on potential deal size? Will you focus on actual deal size? Questions for Marketing Manager Ali Syme Marketing Mathematician

18. Strategy New assets are required to deliver on the strategy The strategy forms part of the business plan The business model may change because of the strategy The strategy is not confined to a year – though there is a target date Campaign Uses all existing assets and resources Required to fit a certain timeframe Run within marketing remit Existing products and markets subject to campaign Strategy vs. Campaign Ali Syme Marketing Mathematician

19. Strategy New product devised Brand new market (territory, sector, etc.) Product needs rebranding New model (eCommerce, Distribution, etc.) Aim to grab % of market Campaign Promotion on product Sector specific Product Specific End of Year Campaign Sale, discount and incentive Examples… Ali Syme Marketing Mathematician

20. Marketing is where all the smart people are If you’re afraid of numbers, you shouldn’t be in the game Digital isn’t everything – you need to know the fundamentals Fuzzing the numbers is easy – but eventually you’ll be asked about the cash Know whether you’re running a campaign or strategy – don’t try and reinvent the company to suit your ideas Know your assets – online and offline Don’t be afraid to fill in a Purchase Order Buy your sales colleagues a pint or two Help your team by having an atmosphere of creativity Be bold. Be loud. But remember – it’s just business. Conclusions Ali Syme Marketing Mathematician